New Delhi, Jan 2 (KNN) The Regional Comprehensive Economic Partnership (RCEP) would facilitate India’s Micro, Small and Medium Enterprises (MSMEs) to effectively integrate into the regional value and supply chains, said C. R. Chaudhary, Minister of State of Commerce and Industry.

In a written reply to Lok Sabha, he said “It is expected to provide market access for India’s goods and services exports and encourage greater investments and technology into the country.”

He further raised an important point, saying that India is not a member of the Asia-Pacific Economic Co-operation (APEC), a grouping of 21 countries in the region with an aim to deepen and strengthen economic and technological cooperation amongst member countries. 

RCEP is a proposed Free Trade Agreement (FTA) between 10 ASEAN member states and their six FTA partners — Australia, China, Japan, New Zealand, South Korea and India.